During the Double 11 shopping spree on November 11 this year, the online payment transaction volume and the credit card transaction volume handled by the Postal Savings Bank of China (PSBC) both reached a new high, of which the online payment turnover totaled 39.3 billion yuan (about 5.59 billion US dollars).
This year marks the 11th Double 11 shopping spree. In order to fully support the Double 11 for online payment, PSBC established a special support team, and has carried out a series of system optimization work in various aspects such as technology and services ever since July. In the meantime, it actively connected with the Chinese online payment clearinghouse NetsUnion Clearing Corporation (NUCC) and UnionPay, the country's largest bank card payment processor, and completed 12 rounds of pressure tests and drills, which effectively improved the processing capacity of the system.
During the peak period of the Double 11 festival, about 200 people consisting of heads and experts from technology departments, relevant business departments and partners provided support to ensure the safe and smooth operation of the system. With the careful arrangements of PSBC’s remote banking center, the three centers in Beijing, Hefei and Chengdu planned collaborative operation schemes, took precautions in personnel and shifts, and thus ensuring the service efficiency and quality.
PSBC’s credit card transactions also set a new record during the Double 11 period. In order to guarantee the stable and smooth operation of the system, PSBC’s two credit card centers located in different places were connected to the transaction channels of NUCC and UnionPay respectively, providing powerful support for the peak-time transactions.